Translation please

Hello, I know this is embarassing, but given that I am physicist, who just trades using math models, I probably will be excused for asking to translate a phrase, which I could not understand. Long story short: ZH article on quad witching had the following phrase:"And speaking of the "extreme" gamma and delta positioning, McElligott noted that the sum of Nasdaq Gamma within 1% of spot is currently in the 98th %ile, while the sum of QQQ Delta across strikes is 96th %ile, which explains the forced dealer delta grab via overwriter roll-outs CEASE and aligns with the buyback blackout commencement."Can someone translate in plain English what exactly does the "... the forced dealer delta grab via overwriter roll-outs CEASE.." mean? Thank you.

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dealers sell options to buyers...so the dealers are naturally short. if you look at open interest for various strikes at the nearest expiration...dealers will often be semi-naked short those options...and if price gets close to, or outside those stikes with large oi, then the dealers are forced to buy the underlying as price goes higher, and the higher it goes, the more they need to buy.

why are dealers so naked short those options? because most options expire worthless, so they are playing the statistics. however, when those price barriers get hit, the dealers are generally forced to cover by the risk mgmt dept...and hence the rally from friday

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